Vimeo, a NYC-based professional video platform, received a $150m equity investment.
Backers included Thrive Capital and GIC. The deal values the software-as-a-service (SaaS) company at $2.75 billion.
The new capital will enable the company to make investments in R&D, sales and international expansion.
Led by Anjali Sud, CEO, Vimeo provides a cloud platform for every business—from local SMBs to global enterprises — to create videos, collaborate with colleagues, and broadcast live events securely to audiences around the world. In the last year, the company expanded its product suite with the launch of Vimeo Enterprise (internal broadcast and collaboration tools for larger organizations), Vimeo Create (a quick, easy video maker for SMBs) and Vimeo Record (a free video messaging tool for teams).
In 2020, the platform has scaled to over 200 million users globally with over 3,500 enterprise customers including Amazon, Starbucks, Deloitte, Zendesk, Rite Aid and Siemens, and 1.5 million paying subscribers, of which almost 10% currently using multiple seats per account.
Vimeo is a IAC (NASDAQ: IAC) company.